First Republic bank shares were seen rebounding on Tuesday after Janet Yellen was expected to signal a government backstop for smaller banks was at the ready if required.
First Republic bank shares surged more 30 per cent in opening trade on Tuesday, paring some of the New York-based bank’s recent losses.
First Republic is the hardest hit among the regional banks which have suffered massive outflows of deposits following the collapse of Silicon Valley Bank. It’s shares have fallen…
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